A confessed conman who planned to pay his victims back with his poker winnings was sentenced to 12 years in prison after he couldnt come up with the money.Samuel McMaster Jr. pleaded guilty to 26 felony charges last August, including securities fraud, sale of an unregistered security and sale of a security by an unlicensed broker/dealer.McMaster managed to stay out of prison by promising the 23 investors he bilked that he would pay them back by winning $450,000 at the poker table. His lifetime winnings at the felt total $31,642, and only $1,461 of that came after his pledge, according to CardPlayer.com.On Wednesday, District Judge Ross Sanchez sentenced McMaster to 12 years in prison, followed by five years of supervised probation. McMaster has also been ordered to attend counseling for gambling addiction and to stay away from any gambling establishment.This was long overdue, Superintendent of the New Mexico Regulation and Licensing Department J. Dee Dennis Jr. said. This individual wanted to con us into believe that keeping him out of prison would help his victims get their money back.According to prosecutors in the case, McMaster solicited his clients to invest in what he described as promissory notes or CDs issued by his company. The securities were not registered under state law and the money was not used for investment purposes.McMaster was also ordered to pay his investors back in full, but none of the lost money has been recovered yet.

ALBUQUERQUE, N.M. —

A confessed conman who planned to pay his victims back with his poker winnings was sentenced to 12 years in prison after he couldnt come up with the money.

Samuel McMaster Jr. pleaded guilty to 26 felony charges last August, including securities fraud, sale of an unregistered security and sale of a security by an unlicensed broker/dealer.

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McMaster managed to stay out of prison by promising the 23 investors he bilked that he would pay them back by winning $450,000 at the poker table. His lifetime winnings at the felt total $31,642, and only $1,461 of that came after his pledge, according to CardPlayer.com.

On Wednesday, District Judge Ross Sanchez sentenced McMaster to 12 years in prison, followed by five years of supervised probation. McMaster has also been ordered to attend counseling for gambling addiction and to stay away from any gambling establishment.

This was long overdue, Superintendent of the New Mexico Regulation and Licensing Department J. Dee Dennis Jr. said. This individual wanted to con us into believe that keeping him out of prison would help his victims get their money back.

According to prosecutors in the case, McMaster solicited his clients to invest in what he described as promissory notes or CDs issued by his company. The securities were not registered under state law and the money was not used for investment purposes.

McMaster was also ordered to pay his investors back in full, but none of the lost money has been recovered yet.